Background*

Mr. Rafael Martinez Villegas served as the President of Inversiones Aliadas SA and Corporacion Financiera Aliadas SA. Mr. Villegas was an Auditor at Peat Marwick, Mitchell & Co. and General Manager of Prebel. He has been an Independent Director of Bancolombia S.A. since April 19, 2010. He was also a Member of the Board of Directors at Prebel S.A., Productos Familia S.A., Enka de Colombia SA, Corporacion Financiera Suramericana S.A. and Orquesta Filarmonica de Medellin, ... among others. Mr. Villegas holds a degree in Business Administration from EAFIT University in Medellin, and a Masters of Science degree in Accounting from Texas Tech University.

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